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Updated over 10 years ago,
Sub 2 hang-up
Hello! I have a sub 2 deal under contract at $181K and a retail buyer who wants to pay $220K to buy the deal from me, meaning he's going to pay me $39K cash to get the deal.
The problem is that he's nervous about the outside chance that the lender might enforce the "due on sale" clause after he puts so much cash into the deal... can anybody suggest how I might get him over this hurdle? I've already explained to him that banks simply don't enforce the clause on a loan that's being paid. Thanks for any advice!